Steven Madden Ltd. (NASDAQ:SHOO)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a report issued on Sunday. They currently have a $40.00 price objective on the stock. Canaccord Genuity’s price target indicates a potential upside of 18.27% from the company’s previous close.
SHOO has been the subject of several other research reports. Piper Jaffray Cos. reaffirmed a “hold” rating and set a $34.00 price objective on shares of Steven Madden in a research report on Friday, July 29th. Zacks Investment Research raised shares of Steven Madden from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 16th. B. Riley downgraded shares of Steven Madden from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $47.00 to $40.00 in a research report on Monday, August 1st. Buckingham Research downgraded shares of Steven Madden from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $36.00 in a research report on Monday, July 18th. Finally, Telsey Advisory Group reduced their price objective on shares of Steven Madden from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $38.64.
Shares of Steven Madden (NASDAQ:SHOO) opened at 33.82 on Friday. The firm’s 50-day moving average is $35.12 and its 200 day moving average is $35.04. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 17.92 and a beta of 0.90. Steven Madden has a 52-week low of $27.80 and a 52-week high of $41.95.
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Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Steven Madden had a net margin of 8.02% and a return on equity of 16.36%. The firm earned $325.40 million during the quarter, compared to analyst estimates of $329.54 million. During the same quarter last year, the business earned $0.40 EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Steven Madden will post $1.99 earnings per share for the current year.
In other Steven Madden news, Director Rose Peabody Lynch sold 1,722 shares of the firm’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $34.34, for a total transaction of $59,133.48. Following the transaction, the director now directly owns 6,994 shares in the company, valued at approximately $240,173.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard P. Randall sold 3,125 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $35.33, for a total value of $110,406.25. Following the transaction, the director now owns 26,425 shares in the company, valued at $933,595.25. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
A number of institutional investors recently modified their holdings of SHOO. State Street Corp boosted its position in shares of Steven Madden by 0.9% in the first quarter. State Street Corp now owns 1,161,844 shares of the company’s stock valued at $43,032,000 after buying an additional 9,935 shares during the period. Neumeier Poma Investment Counsel LLC boosted its stake in Steven Madden by 10.6% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 544,073 shares of the company’s stock worth $20,152,000 after buying an additional 52,060 shares during the last quarter. Palisade Capital Management LLC NJ acquired a new stake in Steven Madden during the first quarter worth approximately $7,890,000. BlackRock Institutional Trust Company N.A. boosted its stake in Steven Madden by 4.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,458,780 shares of the company’s stock worth $54,033,000 after buying an additional 55,503 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in Steven Madden by 16.5% in the first quarter. BlackRock Group LTD now owns 79,222 shares of the company’s stock worth $2,935,000 after buying an additional 11,199 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.
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